Survey: High-Earning Millennial Men are Most Interested in Crypto Investing

Recent research by blockchain-focused company Clovr has revealed that cryptocurrency investing is most popular among millennials earning from $75,000 to $99,999 annually. The survey collected responses from over 1,000 Americans between ages 18 and 80.

Per the survey, men are almost twice as likely as any other generation to invest in digital currencies, with 43 percent of men and 23 percent of women investing in crypto. 47 percent of individuals with an annual income not less than $75,000 annually have invested in digital assets, while less than a quarter of those earning under $25,000 said they can afford to significantly invest in crypto.

According to data from the U.S. Bureau of Labor Statistics, the median weekly earnings in the second quarter of 2018 for a man between the ages of 25–34 was $857, or over $44,000 annually.

Almost 40 percent of respondents cited peer influence as a main reason for investing in crypto, and over 35 percent have reportedly been lured into the crypto market by the “Fear of Missing Out” (FOMO).

The survey found a solid level of awareness of digital currencies, with more than 75 percent of respondents claiming that they “feel” they know what cryptocurrency is, while the remaining 20 percent suppose they “sort of” know what is happening in the crypto field.

In regards to explaining to others what crypto is, 62 percent of the survey participants said they are able to keep up a discussion about cryptocurrencies.

When asked their opinion on investment in crypto, almost 80 percent of respondents answered that they consider investing in crypto as a positive form of risk-taking. The study further states that 1 in 3 think that crypto investment is an innovative option compared with stocks and bonds.

Recent research has found that of all the generations, millennials show the most interest in crypto investing. A survey published in September by research service YouGov Omnibus revealed that half of American millennials are interested in using cryptocurrency.

Another poll by crypto finance company Circle showed that 25 percent of millennials said they are interested in purchasing digital currencies over the next 12 months, which sets them apart from other generations by more than 10 percent.